Neogen Chemicals Limited has successfully completed its Qualified Institutional Placement (QIP), allotting 26,60,753 equity shares at an issue price of ₹2,255 per share. The total issue size amounted to approximately ₹5,999.99 crore. This fundraising effort, approved by the Fund-Raising Committee, aims to strengthen the company’s capital base. The newly issued shares will be listed on BSE and NSE, ranking pari passu with existing shares.
Neogen Chemicals Concludes Major QIP
Neogen Chemicals Limited has announced the successful completion of its Qualified Institutional Placement (QIP), a significant fundraising initiative. The company’s Fund-Raising Committee, in a meeting held on September 16, 2026, approved the issuance and allotment of 26,60,753 equity shares. These shares were offered to eligible Qualified Institutional Buyers (QIBs) at an issue price of ₹2,255 per equity share, which includes a premium of ₹2,245 per share. This price was determined to be higher than the floor price of ₹2,189.73.
Fundraising Details and Impact
The total amount raised through this QIP is approximately ₹5,99,99,98,015 (Rupees Five hundred ninety-nine crore ninety-nine lakh ninety-eight thousand and fifteen only). Following this allotment, the company’s paid-up equity share capital has increased. The total number of equity shares outstanding now stands at 3,00,42,427, with a face value of ₹10 each. The total consolidated value of the equity share capital after the issue is ₹30,04,24,270. The new equity shares issued under the QIP will be listed on both the BSE Limited and National Stock Exchange of India Limited and will carry the same rights, including dividend and voting rights, as the existing equity shares.
Allotment Summary
The QIP, which opened on September 10, 2026, and closed on September 16, 2026, saw allotments made to various institutional investors. A detailed list of allottees who have been allocated more than 5% of the equity shares offered in the Issue is provided, including prominent names such as ICICI Prudential Funds, INVESCO INDIA, MIRAE ASSET, and SBI LIFE INSURANCE CO. LTD. The total number of securities issued and the total amount raised have been disclosed as per regulatory requirements.
Source: BSE
